If the aircraft had continued onward, besides squawking, it should've also stayed on course - it'd also almost certainly be flying on LNAV by that point, so it would be continuing on it's filed route. That's what happened with that Helios flight - out flew to it's destination and then entered a hold over Athens until running out of fuel.
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There are only forty people in the world and five of them are hamburgers.
-Don Van Vliet (aka Captain Beefheart)
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